Swiss Prime Site Solutions increases assets under management
Swiss Prime Site Solutions' assets under management increased by 5% year-on-year in the first half of 2020.
Assets under management have increased to CHF 2.3 billion, according to a statement from Swiss Prime Site Solutions. By the end of the year, they are expected to rise to 2.6 billion; this target had been confirmed at the Swiss Prime Site Group's annual media conference.
The vacancy rate in the portfolio of the client Swiss Prime Investment Foundation (SPA) decreased from 4.95% to 4.17% compared to year-end 2019, despite the Corona crisis. It was said that all tenant applications were processed for the SPA and the sixth issue was carried out. In addition, more construction projects were started.
Transaction activity was very limited in the first half of the year due to the Corona pandemic, but Swiss Prime Site Solutions completed an acquisition worth around 100 million in the third quarter. Three further acquisitions are under detailed review and are close to completion, the company added. (ah)
